Collingwood board meltdown gameday thread

[The Warlord]

Collingwood members pushing for board spill claim Korda has attempted to "crush democracy"

“Mr Korda and the board have ignored their legal obligations..."

www.sen.com.au

 

[The Warlord]

I assume that would be to re-elect board members. If so that is fair enough.

An existing board should decide on bringing on new board members. Not club members. That is prudent and is why it happens in the corporate world. Makes little sense to have shareholders or club members to decide who should be a board member when they are not in a position to understand how the board can work effectively or the complimentary skillset required.

Collingwood's biggest issue was having a President for over 10 years. Good governance suggests a president should have a maximum term. Otherwise, particularly when it comes to a member based club, you have a situation whereby he/she treats it like it's theirs. Eddie got himself involved in areas of the club a president should not have.

Electing new members and re-electing old ones.

There's a nominations committee too.

 

[The Warlord]

BOOM

Collingwood president quits as Eddie McGuire’s close friend waits in the wings

Mark Korda has called an early mark as the AFL club’s boardroom battles take another twist ahead of a crucial meeting.

7news.com.au

 

[sprockets]

BOOM

Collingwood president quits as Eddie McGuire’s close friend waits in the wings

Mark Korda has called an early mark as the AFL club’s boardroom battles take another twist ahead of a crucial meeting.

7news.com.au

Being a close friend at least Eddie won't be challenging him later on.

 

[76woodenspooners]

BOOM

Collingwood president quits as Eddie McGuire’s close friend waits in the wings

Mark Korda has called an early mark as the AFL club’s boardroom battles take another twist ahead of a crucial meeting.

7news.com.au

Click bait.

Korda simply announced that he won’t recontest the Presidency after December’s AGM. He was unlikely to prevail after then anyway, so he’s simply pre-emptied the inevitable.

 

[The 747]

I assume that would be to re-elect board members. If so that is fair enough.

An existing board should decide on bringing on new board members. Not club members. That is prudent and is why it happens in the corporate world. Makes little sense to have shareholders or club members to decide who should be a board member when they are not in a position to understand how the board can work effectively or the complimentary skillset required.

Ahem the shareholders a) own the company and b) they literally decide who is a board member by voting.

 

[Brickwall]

its not a melt down is is actually good for the club , just what we need , every hater calm down

 

[Geoff Dickson]

I assume that would be to re-elect board members. If so that is fair enough.

An existing board should decide on bringing on new board members. Not club members. That is prudent and is why it happens in the corporate world. Makes little sense to have shareholders or club members to decide who should be a board member when they are not in a position to understand how the board can work effectively or the complimentary skillset required.

Really? Maybe in privately owned businesses, which is not a good benchmark for football clubs.

What publicly listed company in Australia does not allow the shareholders to elect the directors?

 

[Juddernaut08]

Maybe the wrong spot but Nick Daicos just looks incredible. Really annoying the Pies will get him.

His highlights reel looks like Dusty 2017. Just completely dominant and almost disrespectful to opponents.

Will be the Pies best player within 24 months.

 

[WinstonWolfe]

Really? Maybe in privately owned businesses, which is not a good benchmark for football clubs.

What publicly listed company in Australia does not allow the shareholders to elect the directors?

That's actually incorrect. In publicly listed companies, shareholders can only re-elect a director. The board will initially bring in a new director.

 

[10571z]

Maybe the wrong spot but Nick Daicos just looks incredible. Really annoying the Pies will get him.

His highlights reel looks like Dusty 2017. Just completely dominant and almost disrespectful to opponents.

Will be the Pies best player within 24 months.

Maybe but different sorry among men. Let’s hope

 

[Geoff Dickson]

So how s

That's actually incorrect. In publicly listed companies, shareholders can only re-elect a director. The board will initially bring in a new director.

So if you are correct, does this mean that a new director of a publicly listed company is never elected by the shareholders?

So what does 9.6 of the attached constitution mean/allow?

https://investors.jbhifi.com.au/wp-content/uploads/2019/09/JB-Hi-Fi-Limited-Constitution.pdf

And then there is this from the Nine Entertainment constitution;

26.11 Nomination by Members A Member may nominate any person (including a Director who is retiring by rotation) as Director by providing notice to the Company no less than 35 Business Days (or, in the case of a general meeting requested by Members, no less than 30 Business Days) before the date of a general meeting at which Directors will be elected.

Hw do I reconcile these clauses with your statement that 'shareholders can only re-elect a director'?